Unsure how to proceed with bill/invoice

Alex45

I'm new to MYOB and invoicing so help needed please on what I am sure or hope is a simple question.

 

I provide a regular healthcare service to 1 company. At the end of the month I send a computer printout which indicates the date and amount due for each service.

 

The company whose rooms and admin I use then send me a printout labeled 'Payable Invoice" which indicates for each of the services I have provided - the $ amount I am charging, the date of the service, the $ amount of the Admin service they have provided to me (+ GST) which they are deducting, and the amount due to me for each service with a total at the bottom which is deposited directly into my bank account.

 

I am unsure as to how to enter this in MYOB. My feeling is to wait until I receive this printout from them at the end of the month then enter an invoice showing:

 

Sale: Invoice  (income code)           $X

Admin Fee:    (expense code)         -$X

 

Which will give balance due to me. I can then enter a payment.

 

Does this sound correct? Thank you

 

 

 

 

Earl_HD

Hi @Alex45,
 

Yes, you're on the right track with entering these transactions. In MYOB, create a sales invoice for the services provided using your income code, then add the admin fee as a negative line using an expense code (e.g., 'Admin Fees'). This will reflect the total income minus the admin fee, leaving the balance that will be paid to you. Once you receive the payment, apply it to the invoice to match the amount deposited. For detailed steps, refer to the MYOB help page on entering a bill, quote, or order.

I hope this helps!

Regards,
Earl